Cryptocurreny Market Update: Only Hardcore Hodlers Still in The Game

Monday morning in Asia is a red one in crypto land as markets slide further back. There have been no more major selloffs, however, and losses are marginal. Total market capitalization is still in the $200 billion range.

Bitcoin has not moved for the past four days and is still holding support at just below $6,300. BTC has dictated the flow of the rest of the market enough times this year and it seems to still be doing so as there is little movement elsewhere at the moment. Ethereum has weakened further, dropping back to $195 as ETH loses another 2% on the day.

The altcoins are all red at the moment dropping a percent or two from yesterday’s levels. In the top ten XRP, Stellar and Cardano have fallen the furthest losing around 2-3 percent on the day. The rest are down between one and two percent at the moment.

The top twenty shows a similar situation with Dash making the biggest drop of 3% to reach $156. The other alts are down 0-2 percent right now. Tron and Tezos are holding steady with no further losses.

As usual there is a daily pump going on and at the moment it is Komodo which is up 13% to $1.13. New wallets and updates continue to flow from the team but like all other cryptocurrencies KMD is still painfully low. Komodo is level on the week but up 12% since the same time last month.

At the red end of the table in the top one hundred is Nexo dropping 10%, and yesterday’s pump, Digitex Futures, is predictably dumping today falling 7%. Loom Network and Aion are also sliding 6-7 percent on the day.

Total crypto market capitalization has fallen a further one percent during Asian trading this morning. Markets fell back to $198 billion but have recovered a little to climb back over $200 billion at the moment. Since last Monday crypto markets have lost 8%, and since the same time last month they are pretty much at the same level. Crypto markets have been at this bottom for around two months now, the longest inactive period since last year.

Bitcoin dominance has gradually increased again and is now at 54.4% as altcoins get dumped and only hardcore hodlers remain in the game.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.